Credit ratings and stock price crash risk

被引：1
|
作者：
Usman, Adam [1 ]
机构：
[1] James Madison Univ, Coll Business, Dept Finance & Business Law, Harrisonburg, VA 22807 USA
来源：
APPLIED ECONOMICS LETTERS | 2023年
关键词：
Stock price crash risk; credit ratings; disclosure; WITHHOLD BAD-NEWS; EARNINGS MANAGEMENT; BOND; FIRMS; RETURNS;
D O I：
10.1080/13504851.2023.2212955
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
This paper examines the impact of credit rating downgrade risk on stock price crash risk. Using various proxies to identify the proximity to credit rating downgrades, I find firms closer to downgrade thresholds experience greater stock price crash risk. This relationship intensifies for firms on the investment grade-speculative grade boundary.
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页数：8
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